Movano to acquire Corvex in reverse merger; Corvex stockholders to own ~96% of combined company

Corvex, Inc.

Corvex valued at $250M, Movano at $10M; pre-Merger Corvex holders to own ~96.2% of combined entity.
Movano raises $3M via Series A convertible at $5.50/sh; secures $1B equity facility from Chardan.
Corvex concurrently raises $37.1M in private placement; Movano to sell operating assets and distribute proceeds.
Support agreements from 21.2% of Movano shares to vote in favor; directors and officers subject to 180-day lock-up.
Combined company board: 5 Corvex designees, 1 Movano designee; name change to Corvex, Inc. proposed.

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